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Telenor finishes share buybacks for the year
October 1, 2013 / 5:10 AM / 4 years ago

Telenor finishes share buybacks for the year

OSLO, Oct 1 (Reuters) - Norwegian telecoms group Telenor finished its share buyback programme and will cancel 15.17 million shares or about 1 percent of all outstanding shares, it said on Tuesday.

Telenor bought back 6.98 million shares on the market and will purchase the rest from the government, maintaining the stake in the firm.

The shares were purchased at an average price of 131.59 crowns each, returning 2 billion crowns ($333.4 million) to shareholders. ($1 = 5.9984 Norwegian krones) (Reporting by Balazs Koranyi)

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